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Sanjeet bought a new car at the dealership for $28,000. It is estimated that the value of the new car will decrease 8% each year. Which exponential function models the value v of the car after t years

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tramserran

Answer: [tex]\bold{V = 28,000(0.92)^t}[/tex]

Step-by-step explanation:

[tex]V = V_0(1-r)^t[/tex]  ; where

  • V₀ is the initial value
  • -r is the rate of decrease
  • t is the time

Given:

  • V₀ = 28,000
  • -r = -0.08
  • t = t (unknown)

Equation:

[tex]V = 28,000(1-0.08)^t[/tex]

[tex]V = 28,000(0.92)^t[/tex]

Answer: v= 28,000(0.92)^t

Step-by-step explanation:

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